Paying my tax
If your business is registered for GST you will have to complete a Business Activity Statement (BAS) each reporting period. The ATO will advise you as to your payment reporting period. This will be either monthly, quarterly or annually. As part of this process you may need to account for and pay GST, PAYG instalments, withholding tax, FBT and fuel tax credits.
You must lodge an income tax return for every year in which you run a business - even if you don’t have to pay any tax. Be aware that penalties can apply if you lodge either of these late, so ensure you contact the ATO if you are experiencing delays.
You should speak to a professional tax adviser about your obligations in your particular circumstances.
What are my payment options?
You can pay the ATO using any of the following methods:
- Pay online by direct credit transfer or BPAY ®
- Request a direct debit by completing a direct debit request with the ATO and have your payment automatically deducted from your cheque or savings account
- Pay by Telephone Banking using BPAY ®
- Pay by cheque and mail to ATO, or deposit at a post office
- Pay by cash at Australia Post (up to $3,000).
Review your options
More information can be found at the ATO Activity statement essentials.
Things you should know
- BPAY® is a registered trademark of BPAY Pty Ltd ABN 69 079 137 518.
